Commodity prices are mostly higher due to a weaker dollar. Aug crude oil (CLQ15 -0.05%) is up +0.20%, Aug gasoline (RBQ15 +0.77%) is up +0.59%. Metals prices are stronger. Aug gold (GCQ15 unch) is up +0.08%. Jul copper (HGN15 +0.46%) is up +0.06%. Agricultural prices are weaker.
The dollar index (DXY00 -0.32%) is down -0.24%. EUR/USD (^EURUSD) is up +0.29%. USD/JPY (^USDJPY) is down -0.02%.
Sep T-note prices (ZNU15 +0.10%) are up +2.5 ticks.
Greece's creditors handed Greece an overhauled set of measures the country must meet in order to receive bailout funds ahead of a meeting today in Brussels between Greek Prime Minister Tsipras and the heads of the three creditor institutions; ECB President Draghi, IMF Managing Director Lagarde and European Commission President Juncker. Eurozone finance ministers will then meet later today in an effort to reach a deal on more aid for Greece before its current bailout expires and 1.5 billion euros in debt payments come due to the IMF on Jun 30.
The German Jun IFO business climate fell -1.1 to 107.4, weaker than expectations of -0.4 to 108.1 and the lowest in 4 months.
There are 3 of the Russell 1000 companies that report earnings today: Lennar (0.64), Monsanto (2.06), Bed, Bath & Beyond (0.95).
U.S. IPO's scheduled to price today include: TransUnion (TRU), Milacron Holdings (MCRN), Gener8 Maritime (GNRT), Wayne Farms (WNFM), Glaukos (GKOS), Lantheus Holdings (LNTH), Catabasis Pharmaceuticals (CATB).
Equity conferences during the remainder of this week include: Global Hunter Securities Energy Conference on Tue-Wed, Jefferies Global Consumer Conference on Tue-Wed, Oppenheimer Consumer Conference on Tue-Wed, 3rd Annual Mobile Pharma Summit on Wed, and Sanford C. Bernstein Media Summit on Wed.
McCormick (MKC +0.06%) was upgraded to 'Outperform' from 'Market Perform' at Bernstein.
Electronic Arts (EA -0.06%) was upgraded to 'Buy' from 'Hold' at Jefferies with a price target of $80.
Anthem (ANTM -0.61%) was initiated with an 'Outperform' at RBC Capital with a price target of $222.
UnitedHealth (UNH +2.07%) was initiated with an 'Outperform' at RBC Capital with a price target of $159.
Comerica (CMA +1.10%) was upgraded to 'Buy' from 'Neutral' at BofA/Merril Lynch.
BHP Billiton (BHP +1.48%) was upgraded to 'Neutral' from 'Underperform' at Credit Suisse.
Lennar (LEN -1.01%) reported Q2 EPS of 79 cents, better than consensus of 64 cents.
Sysco (SYY -0.03%) dropped nearly 3% in after-hours trading after a federal judge blocked its bid to acquire U.S. Foods.
Ford (F +1.06%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
General Motors (GM +0.30%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Columbia Pipeline Group (CPGX) will replace Allegheny Technologies (ATI +3.22%) in the S&P 500 as of the close of trading on July 1.
Netflix (NFLX +0.93%) rose nearly 3% in after-hours trading after it announced a seven-for-one stock split.
Sep 10-year T-notes (ZNU15 +0.10%) this morning are up +2.5 ticks. Tuesday's closes: TYU5 -12.00, FVU5 -6.25. Sep T-notes on Tuesday closed lower on the stronger-than-expected U.S. May new home sales report of +2.2% to a 7-1/4 year high of 546,000, and an increase in inflation expectations after the 10-year T-note breakeven inflation rate climbed to a 1-1/2 month high.
The dollar index (DXY00 -0.32%) this morning is down -0.233 (-0.24%). EUR/USD (^EURUSD) is up +0.0032 (+0.29%). USD/JPY (^USDJPY) is down -0.02 (-0.02%). Tuesday's closes: Dollar Index +1.103 (+1.17%), EUR/USD -0.01731 (-1.53%), USD/JPY +0.574 (+0.47%). The dollar index on Tuesday rose to a 1-week high and closed higher on the stronger-than-expected U.S. May new home sales report, which may prompt the Fed to raise interest rates sooner rather than later.
Aug WTI crude oil (CLQ15 -0.05%) this morning is up +12 cents (+0.20%). Aug gasoline (RBQ15 +0.77%) is up +0.0121 (+0.59%). Tuesday's closes: CLQ5 +0.63 (+1.04%), RBQ5 +0.0551 (+2.76%). Aug crude oil and gasoline on Tuesday closed higher on (1) expectations that Wednesday's weekly EIA data will show that crude inventories fell -1.5 million bbl, the eighth straight weekly decline, and (2) signs of strength in the global economy after the Eurozone Jun Markit manufacturing PMI and the China Jun HSBC manufacturing PMI were both stronger than expected.
|US||0700 ET||Weekly MBA mortgage applications, previous -5.5% with purchase sub-index -4.2% and refi sub-index -5.9%.|
|0830 ET||Revised Q1 GDP expected -0.2% (q/q annualized), previous -0.7%. Q1 personal consumption expected +1.9%, previous +1.8%. Q1 GDP price index, previous -0.1%. Q1 core PCE deflator, previous +0.8%.|
|1030 ET||EIA Weekly Petroleum Status Report.|
|1130 ET||Treasury auctions $13 billion of 2-year floating-rate notes.|
|1300 ET||Treasury auctions $35 billion of 5-year T-notes.|
|GER||0400 ET||German Jun IFO business climate expected -0.4 to 108.1, May 108.5. Jun IFO current assessment expected -0.2 to 114.1, May 114.3. Jun IFO expectations expected -0.6 to 102.4, May 103.0.|
|Lennar Corp||LEN US||Bef-mkt||Q2 2015 Earnings Release||Q2 2015||0.641|
|Monsanto Co||MON US||Bef-mkt||Q3 2015 Earnings Release||Q3 2015||2.063|
|CenturyLink Inc||CTL US||8:45||Analyst Day||Y 2015|
|Rock-Tenn Co||RKT US||9:00||Extraordinary Shareholders Meeting - M&A Vote||Y 2015|
|McKesson Corp||MCK US||9:00||Investor Day||Y 2015|
|MeadWestvaco Corp||MWV US||9:00||Extraordinary Shareholders Meeting - M&A Vote||Y 2015|
|Signet Jewelers Ltd||SIG US||9:30||Investor Conference||Y 2015|
|Monsanto Co||MON US||9:30||Q3 2015 Earnings Call||Q3 2015|
|Red Hat Inc||RHT US||10:30||Analyst Day||Y 2015|
|Lennar Corp||LEN US||11:00||Q2 2015 Earnings Call||Q2 2015|
|Equity Residential||EQR US||14:00||Annual General Meeting||Y 2015|
|Bed Bath & Beyond Inc||BBBY US||17:00||Q1 2016 Earnings Call||Q1 2016|
|Bed Bath & Beyond Inc||BBBY US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.945|
|Questar Corp||STR US||Roadshow - Texas Day 1||Y 2015|
|Raymond James Financial Inc||RJF US||May 2015 Sales and Revenue Release - Operating Data||2015|
|IAC/InterActiveCorp||IACI US||Annual General Meeting|
|Yahoo! Inc||YHOO US||Annual General Meeting|